The midfielder has been provided with regular game time this season, making a total of 18 starts and 21 substitute appearances in all competitions.
However, the 26-year-old has continuously been linked with a potential switch to Lazio, who are managed by former Blues head coach Maurizio Sarri.
While Barnett has acknowledged that the Englishman has a strong relationship with Sarri, he hints that the academy graduate will stay in West London for at least another 12 months.
Speaking to Tuttosport, Barnett said: "He and Sarri have an excellent relationship, but for the moment there is nothing.
"Despite the club being in a transformative phase, Chelsea are still a top club. It is difficult to leave such a club."
Loftus-Cheek still has two years left on his contract at Stamford Bridge, leaving neither party in a rush to make a final decision on the future.